The seven-storey building, once the home of the Department of Work and Pensions, has stood empty for the last 12 months and will become the business’s corporate headquarters.

It will house offices and accommodation for the firm’s research and development teams as well as its technical support services.

The company is expected to begin moving staff by the end of the year – and has plans to create a showroom for the company’s range of products.

Council leader Coun Richard Farnell said: “Tetrosyl’s decision to base its new corporate headquarters in the town is a significant moment in our regeneration story and a clear indication that Rochdale is on the rise.

“The company’s substantial investment of more than £1m will transform a key building, bring new people to work in the town, generating retail income and create new jobs.

“It is a hugely important deal that will have positive and long-lasting benefits for the whole borough and I believe it will help foster the ‘can-do’ approach that the council has and encourage more businesses of this calibre to relocate here.

“We have the history, we have the new infrastructure and we have the will to make things happen.”

He added: “The new headquarters building will also help place Rochdale on the world stage - Tetrosyl is a major international company with customers all over the globe, many of whom will be coming to visit the new headquarters and see new products under development and stay in the area.

“The company’s plans for the building are hugely exciting, and the council welcomes its commitment to future growth and development from its new base.”

Coun Farnell and Conservative group Leader Coun Ashley Dearnley have written to the company to welcome it to the borough.

Around 80 people are employed at the company’s existing base in Bury who will be offered the opportunity to move.

Peter Schofield, group chairman of Tetrosyl Ltd , said: “I am proud of the fact that Tetrosyl has its roots very firmly in the north west where we have been able to grow and develop for more than 60 years from a small business to a major international corporation.

“The opportunity to acquire Newgate House came along at a time when we had to make the decision to move and we are very pleased to have acquired the building.

Negotiations to bring the company to Rochdale have been ongoing for the last six months, with Rochdale Development Agency playing a key role.

Rochdale acting chief executive Linda Fisher said: “Businesses look to invest and relocate in towns which they know share their own positive vision for the future. Rochdale has already undergone a huge amount of regeneration and you only have to look around to see that even more is currently underway.